European Stocks Close Broadly Higher, Reversing From Yesterday's Declines
Jul 26, 2018
- European stocks finished broadly higher, with the Euro Stoxx 600 +0.87%, the FTSE 100 +0.06%, the DAX +1.83%, and the CAC 40 +1.00%
- Automobiles & Parts (+2.57%), Telecommunications (+1.65%), Health Care (+1.58%) stocks are the top performers in the Euro Stoxx 600 today. Food & Beverage (-0.08%), Retail (-0.06%), Travel & Leisure (+0.03%) stocks are the worst performers in the Euro Stoxx 600 today.
- Yield on the Italian 10-year rose 2.7 basis points to 2.698%, while the yield on the Spanish 10-year is up 1.2 basis points to 1.357%
- The VSTOXX closed 136 basis points lower, to 12.13
- European currencies are broadly lower against the USD$, with the EUR€ -0.55%, the GBP -0.45%, the SEK -0.41%, and the CHF -0.11%
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Daimler AG (XTRA:DAI) announced that it will be breaking into thee segments, marking the company’s biggest overhaul in a decade. The new units will be focused on producing cars, trucks, and mobility services. This development follows disappointing 2Q2018 earnings results, and Daimler has warned investors that trade barriers, new European emissions tests, and price pressure will continue to weigh on the company
Royal Dutch Shell Plc (ENXTAM:RDSA) shares traded 3.05% lower today, after the company’s 2Q2018 EPS came in below estimates. The company announced that it is starting a $25 billion share-repurchase program, and will begin by buying $2 billion in stock over the next 3 months
Total SA (ENXTPA: FP) raised its production target for the second time this year, as rising oil prices are driving a surge in the company’s profit. Shares in Total SA traded 2.27% higher to €54
*Source: Stockdio, Data in Price Return